PayPal’s Just Introduced a Bitcoin Onramp to 346 Million People
Bitcoin’s price rocketed to $13,000 this morning after news broke regarding FinTech giant PayPal’s foray into the crypto market. It has long been rumored that the payment processing firm was cooking up a crypto-related feature. Still, past reports regarding blockchain-specific job openings could have marked their way of exploring digital assets in a non-serious fashion. […]
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The global monetary landscape will have everyone storing electronic money, cryptocurrencies and central bank digital currencies in one bank. Image a scenario where you need different messengers to send different types of messages — for example, WhatsApp for text messages, Viber for audio, Telegram for video, etc. Rather inconvenient, right? But this is exactly what happens in finance: There is no way to send both digital fiat money and cryptocurrency from a bank account without extra steps. It’s not affecting the masses just yet, but after the issuing of national digital currencies, or....
PayPal is known for being antagonistic towards Bitcoin. The company is known to “sever business relationships” with people who sell Bitcoin products (specifically miners) on eBay, the company that owns PayPal. It doesn’t really seem fair for PayPal to block people from selling Bitcoin mining gear. After all, Bitcoin miners are just specialised computers, and there’s nothing illegal or prohibited in eBay’s terms of service about selling computers. But since Bitcoin threaten’s PayPal’s entire business, it seems a logical (though anti-competitive) move on PayPal’s part. However, one eBay....
Bitcoin.com spoke with a Wall Street trader on why PayPal’s centralized P2P payment system Venmo is preferred among his circle over Bitcoin to uncover what is preventing the cryptocurrency from breaking into the mainstream. It appears that the never ending stream of Bitcoin eulogies is not slowing down anytime soon, as the world’s first decentralized....
PayPal’s crypto integration may bode well for Bitcoin price as its user base could triple Bitcoin (BTC) price has again punched through the $13,000 mark after yesterday’s PayPal’s announcement sparked a powerful rally which drove the price to a new 2020 high. Currently sitting near $13,100, Bitcoin price has rallied nearly 10% since the announcement and BTC is now close to overtaking PayPal as the 21st biggest asset by market capitalization.PayPal’s crypto announcement comes two weeks after Square, another payments giant, announced its own foray into Bitcoin by investing roughly 1% of its....